Stop Us If You’ve Heard This One: Home Prices Are Up

According to the CoreLogic Home Price Index, which has tracked how tens of thousands of homes have sold and resold over the past 30 years, New York (+5.6%), Wyoming (+8.3%), Texas (+8.3%), and Colorado (+9.1%) all set new highs in the index. The HPI covers 7,267 ZIP codes (60% of total U.S. population) and 1,282 counties (85% of total U.S. population) in all 50 states and Washington, DC, and includes all sales types, including distressed (i.e., foreclosures and short sales).

Surprisingly, those distressed sales actually contributed to the price uptick—they’d been dragging home values down since 2008.

Here are the highlights from the report:

27 states and the District of Columbia are within 10% of the prices they peaked at in 2005. That means home values for many owners are nearing values we haven’t seen since before the housing market collapse.

The five states with the highest appreciation were Colorado (+9.1%), Michigan (+9%), Texas (+8.3%), Wyoming (+8.3%), and Nevada (+7.6%).